Mum and Dad should save toward student costs

Parents should "prepare as early as possible" for the cost of their son and daughter becoming graduates, new research has claimed.

The study, by investment company F&C, is urging parents to begin saving for the future to lighten the financial burden awaiting their children.

Even though the price of university is constantly on the increase only 30 per cent of parents are saving for future expenses.

Claiming that costs of university need be tackled before they become a reality, Jason Hollands at F&C said: "The message is simple; prepare as early as possible."

The students themselves gave mixed responses about the prospect of graduate debt. More than 75 per cent regarded a degree as a good investment but 19 per cent claimed the cost would stop them studying their preferred course.

According to the survey the current student loan scheme is very unpopular amongst parents with more than 90 per cent seeking the return of university grants.